PerkinElmer: 2Q Earnings Snapshot

Aug. 01, 2018

The Waltham, Massachusetts-based company said it had profit of 57 cents per share. Earnings, adjusted for one-time gains and costs, were 91 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The maker of scientific instruments posted revenue of $703.4 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $693.8 million.

PerkinElmer expects full-year earnings to be $3.65 per share.

PerkinElmer shares have risen 9 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 5 percent. In the final minutes of trading on Wednesday, shares hit $79.87, a climb of 21 percent in the last 12 months.